Listed by JLL - New York City, New York, JLL Chicago | Americas Headquarters
$5,286,000
Pep Boys - Chicago Ridge, IL
Details
Property Type Retail
Sub Type Auto Shop, Storefront
Square Footage 22,354
Cap Rate 7.25%
NOI $383,250
Occupancy 100%
Tenancy Single
Brand/Tenant Pep Boys
Lease Type Absolute NNN
Lease Term 36
Lease Expiration 01/31/2032
Remaining Term 5.5
Rent Bumps Yes
Price per SqFt $236
Year Built 1994
Acreage 4.800
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 02/01/1996
Ground Lease Yes
Retail | 7.25% CAP | 22,354 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the ground lease interest in a freestanding Pep Boys located at 10100 S Ridgeland Avenue in Chicago Ridge, IL (“Property” or “Asset”). Pep Boys operates on a ground lease with ±6.1 years of lease term remaining and an attractive 15% rent escalation in the one remaining option period.
Investment highlights
Industry leading Tenant with minimal landlord responsibilities and below market rent
Situated amidst high-volume retail hub with leading Placer.ai rankings
Signalized intersection of a heavily trafficked retail corridor with 200K+ VPD
Potential value-add opportunity with in-place income from Tenant with 30 years of occupancy
Listing Contacts
Listed by JLL - New York City, New York, JLL Chicago | Americas Headquarters
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$383,250.00
$31,937.50/mo
Valuation Metrics
0
DSCR
7.25%
Cap Rate
7.25%
ROI
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